It is unclear to many entrepreneurs how to file their tax returns. Do I have to prepare annual accounts or an income statement? In this video we explain how it works.
Entrepreneurs with a BV must submit annual accounts. Usually this is drawn up by an accountant. Self-employed people, ie people with a sole proprietorship, must submit a profit and loss account. You can have this drawn up by an accountant or do it yourself if you are handy with it. There are also many computer programs and online services that you can use for this.
The profit and loss account is important for filing the income tax return. The income tax return must be filed by April 1. If you notice that it will not be possible to submit your tax return on time, it is important that you communicate this to the tax authorities and request a postponement. Entrepreneurs with a BV are also obliged to file their annual accounts with the Chamber of Commerce. If you cannot file your annual accounts on time, you can request a postponement. It is important to be aware that this deferral is temporary with a maximum of 12 months after the financial year. It is particularly important for directors of a BV to adhere to the deadlines. If you do not file your annual accounts on time, you may be personally liable for the debts in the BV
Another point of attention after the end of the financial year is VAT. See if you have declared the VAT correctly in the past year. If this is not the case, you can change it at the tax authorities with a so-called supplementation form. As an entrepreneur, you are obliged to report these changes.
If you have any questions, please let us know. We are happy to help you: info@zuidweg-partners.nl